offshore Guyana – Oil & Gas 360

ExxonMobil ramps up global output with early Yellowtail startup and Permian gains

October 31, 2025

(World Oil)– ExxonMobil reported third-quarter 2025 earnings of $7.5 billion, highlighting record upstream performance across its global portfolio, led by major gains in the Permian basin and offshore Guyana. Companywide production averaged 4.8 million boe per day, up 139,000 boed from the prior quarter. ExxonMobil’s Permian production hit a record 1.7 MMboed, while Guyana output exceeded 700,000 boed, marking another

ExxonMobil starts production at Yellowtail, offshore Guyana

August 8, 2025

(World Oil) – ExxonMobil Guyana started production today at Yellowtail, the fourth oil development in Guyana’s offshore Stabroek block. Yellowtail’s ONE GUYANA floating production storage and offloading (FPSO) vessel joins the Destiny, Unity, and Prosperity FPSOs, bringing total installed capacity in Guyana to above 900,000 barrels of oil per day. “Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and

Chevron wins Exxon case but loses time, oil and billions

July 21, 2025

(BOE Report)– ExxonMobil has lost its arbitration challenge to block Chevron’s $55 billion Hess acquisition deal, but the top U.S. oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. Chevron’s deal, first announced in October 2023, closed on Friday after a drawn-out dispute over Hess’s 30%

Chevron completes $53 billion Hess takeover following lengthy Exxon arbitration

July 18, 2025

(World Oil)– Chevron has completed its $53 billion acquisition of Hess Corporation, having prevailed in an arbitration against ExxonMobil regarding Hess’ offshore Guyana assets, which had delayed the takeover for over a year. offshore operations in Guyana’s Stabroek block. Image: Hess The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in

ExxonMobil greenlights Whiptail oil project offshore Guyana, expects production to pass Venezuela

April 15, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. formally approved its sixth oil development offshore Guyana that will make the Latin American nation a bigger crude producer than OPEC member Venezuela. The Whiptail project will cost $12.7 billion and produce about 250,000 bpd as soon as the end of 2027, Exxon said in a statement Friday. Guyana’s overall daily crude capacity

Hedge funds bet on Chevron amidst ExxonMobil’s claim to Hess’ stake in prolific oil field offshore Guyana

March 6, 2024

World Oil (Bloomberg) – Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition. Exxon Mobil Corp. said last week it has the first right to purchase Hess’s stake in a lucrative offshore oil development they jointly own off the coast of

ExxonMobil advances fifth oil development offshore Guyana

April 28, 2023

World Oil (WO) – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl of daily capacity after a targeted startup in 2026. The $12.7 billion Uaru project plans to include up to 10

Exxon makes more oil and gas discoveries offshore guyana

October 26, 2022

Oil Price U.S. oil and gas major Exxon Mobil (NYSE: XOM) has announced on Wednesday that it has made two more discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, bringing discoveries on the block to more than 30 since 2015. Exxon revealed that the Sailfin-1 well was drilled in 4,616 feet of water and encountered 312 feet of

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

February 8, 2018

Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. According to the company, ExxonMobil’s reserves life at current production rates is 14 years. During

stena carron exxon mobil drillship offshore guyana rig -oilandgas360

ExxonMobil Makes Fifth Discovery Offshore Guyana

October 5, 2017

Turbo-1 encounters a reservoir of 75 feet of high-quality, oil-bearing sandstone approximately 30 miles from Liza phase one Exxon Mobil Corporation (ticker: XOM) said it has made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot joins a string of discoveries for XOM in Guyana including Liza, Payara, Snoek and Liza Deep. Exxon said that following completion

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